ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Wishful Thinking on Employment

THE government's Economic Survey as well as the finance minister in his budget speech have placed the creation of additional employment opportunities at 6.4 million in 1992-93 and 5.6 million in 1993-94 compared to 3 million in 1991-92 and an annual average of 5 million during the six-year period 1985-86 to 1991-92. The finance minister did not hesitate to rub it in: "the drawing-room Cassandras, who predicted massive unemployment as a consequence of the reforms, have been conclusively proved wrong". Really?

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